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Frontage Holdings Corp. ( (HK:1521) ) has issued an announcement.
Frontage Holdings Corporation has announced a major and connected transaction involving the acquisition of the entire issued share capital of a target company through its wholly-owned subsidiary, Frontage Shanghai. The acquisition, valued at RMB270,000,000, will result in the target company becoming a wholly-owned subsidiary, with its financial results consolidated into Frontage’s financial statements. This move is significant as it constitutes a major transaction under Hong Kong’s Listing Rules, requiring shareholder approval and the formation of an Independent Board Committee to advise on the transaction. The acquisition is expected to enhance Frontage’s market position and operational capabilities, although it is subject to certain conditions precedent before completion.
The most recent analyst rating on (HK:1521) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Frontage Holdings Corp. stock, see the HK:1521 Stock Forecast page.
More about Frontage Holdings Corp.
Frontage Holdings Corporation is a company incorporated in the Cayman Islands, operating within the financial sector. It is involved in major transactions and acquisitions, focusing on expanding its market presence and consolidating its financial results.
Average Trading Volume: 654,262
Technical Sentiment Signal: Sell
Current Market Cap: HK$2.65B
For detailed information about 1521 stock, go to TipRanks’ Stock Analysis page.